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Energy Department Announces $3 Million to Support Clean Energy Businesses and Entrepreneurs

January 6, 2014 - 4:20pm

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The Energy Department today announced $3 million to support clean energy business incubators that provide critical services to entrepreneurs and small businesses and accelerate the commercialization of clean energy technologies.

The National Incubator Initiative for Clean Energy will support incubators across the country to help unleash the creative potential of America's entrepreneurs. Through these incubators, small businesses and entrepreneurs can receive important services to help successfully develop and commercialize clean energy technologies, including mentorship, business development, capital access, and manufacturing support.

The newly-established initiative announced today will support a strong national network of clean energy incubators and early-stage companies that are developing clean energy technologies by funding two components:

National Organization: The Energy Department will fund a national organization to support the coordination of American clean energy-focused business incubators. This organization will serve as a central source of information about incubators, enable entrepreneurs to have easier access to clean energy incubators and incubation services, and connect industry with innovative clean energy start-up companies.

Clean Energy Incubators: The Energy Department will fund up to five incubators to identify, develop, and implement best practices for top-performing, clean energy-focused incubators. These organizations will support early-stage companies as they scale to production and enhance our clean energy sector and manufacturing competitiveness.

The Department's Office of Energy Efficiency and Renewable Energy (EERE) accelerates development and facilitates deployment of energy efficiency and renewable energy technologies and market-based solutions that strengthen U.S. energy security, environmental quality, and economic vitality. For more information on EERE's efforts to accelerate the commercialization of innovative clean energy technologies, please visit the Technology-to-Market program website.